The real estate industry needs to find its ‘why’

If you ever need a reality check about what is truly important about almost any subject, ask children. Real estate is no different. In a week of climate strikes, inspired and led by the wiser, younger generation maybe real estate needs to truly refocus on what’s important. Spoiler alert, it’s not short-term financial gain. At JLL, we have the genuinely inspiring pleasure of working with the Skills Builder Partnership in inviting primary school age children into our offices, where they work on a variety of projects including designing new communities. Do the children talk about asset values, yields, financial gain ? Of course not. They come up with ideas to ensure people of all ages are supported; green spaces are created and protected; buildings are accessible; supermarket roofs have allotments to ensure the lowest possible carbon footprint… and the list goes on. In my relatively new role as head of investor facilities management, I’m in awe of the passion of my 570 site-based colleagues in introducing and delivering sustainable initiatives from rooftop beehives to waste recycling, leading to (*shameless plug*) 34 Green Apple Awards this year and global recognition for our plans. But, and it’s a big but, I believe real estate can do more. It feels too easy to just say the “right thing”, put into an annual report, tick a CSR box and get some cheap PR. As Simon Sinek would say, “you need to find your why?”. Why, as a real estate professional, do you get up in the morning to do what you do? I wonder how often the answer has a financial focus. I love real estate because of how it influences almost every aspect of our lives but with that influence comes responsibility and unless everyone in real estate fully and seriously takes a collaborative, energetic and long-term approach then what impact are we really having on our world? Ah, but Neil, without income we don’t have a business, we can’t invest, what would our shareholders say… etc. etc. It feels too easy to just say the “right thing”, put into an annual report, tick a CSR box and get some cheap PR. As Simon Sinek would say, “you need to find your why?” It’s time to wake up isn’t it? How much is your building worth if it’s literally under water ? Do you want to mitigate that risk? Then we have to act now. So maybe we should all be truly accountable for and measured by, not just annual financial performance, but genuine societal impact. Not at a corporate level but as individuals. I appreciate I’m stepping into humble brag territory but I’m genuinely proud that JLL UK have committed to net zero carbon by 2030; that our teams are supported in joining this week’s climate strikes; that we have mandatory sustainability training; that we’re winning awards for our sustainability initiatives and soon some service partner contracts will have net zero clauses too. And I have no doubt that our clients and peers at a corporate level will have similar aims, but we have to make it personal. In my role as chair of the JLL UK communities group, I have direct experience that fundraising or volunteering can be seen as a peripheral noise until you make it personal. Inviting a Crisis member to tell their story or volunteering at a local community project that has real meaning, is way more powerful, and generates a longer term commitment than a blanket e-mail encouraging support. I’m an accountant running an FM business so I won’t pretend to have all the answers, but ultimately who am I accountable to?  My children. They inspire me, so it’s the very least I can do to try and inspire them. So, let’s make it personal and see if real estate can find its “why” at the same time. Neil Worrall is head of investor facilities management at JLL Read more about how real estate is committing to the climate change challenge >>